Job Description
Job Ref TRD/004/2023
Trident Insurance Company Limited seeks to recruit qualified, competent, result-oriented individuals to fill the following vacant positions:
Job Purpose
Responsible for actuarial modelling and reporting in IFRS 17 financial standard, product development; profit-testing, solvency, regulatory reporting and compliance. The role holder will provide actuarial support to business and participate in overall risk management for the company. He/she is expected to lead and manage a team that is all rounded and highly motivated to achieve both their personal and career objectives.
Job Specifications
1. Review valuation parameters and change where necessary in consultation with the Principal Officer (PO).
2. Review valuation results and make the monthly management report
3. Review liability levels and advice the finance department accordingly.
4. Review and recommend on appropriate product pricing for existing and new products
5. Continuously review the level of value provided by our products to the policyholders
6. Review and recommend appropriate profitability levels for all products on a monthly/quarterly basis
7. In liaison with the other departments, roll out the implementation and training timetable.
8. Present actuarial reports to the board and management from time to time.
9. Facilitate review of new products by the Actuarial Consultants and provide feedback to management.
10. Ensure regulatory actuarial reports for both quarterly and annual reporting are prepared and submitted.
11. Monitor risk within business positions to ensure excessive risks are not taken during business execution.
12. Ensure compliance to IRA regulation.
13. Working closely with the Business Development and Marketing team in the interest of satisfying customer demands.
14. Monitoring the competition and the regulatory environment, identifying and analyzing major changes in the industry.
15. Looking for possible new partners for the introduction of new services and product features.
Person Specification, Skills & Competencies
For appointment to this position, a candidate must:
• Be a holder of a Bachelor’s degree in Actuarial Science, Statistics, Mathematics or any other related field.
• Master’s degree in business management (as an added advantage)
• Professional qualification in insurance field; AIIK, ACII or Diploma - IIK,
• Professional qualifications in CPA, CFA, ACCA or ACA will be an added advantage
• Have at least five (5) years working experience in an actuarial function or consultancy.
• Be a member of Institute and Faculty of Actuaries or its equivalent.
• Have attained a Fellowship Qualification.